After Reports Of Amazon Taking Interest In Healthcare Firm, Cathie Wood Cuts $48M From Stake

Cathie Wood-led Ark Investment Management sold over 1.7 million shares of home-health services company Signify Health Inc SGFY, valued at over $47.9 million based on Monday’s closing price, through two of its exchange-traded funds.

The share sale comes in the wake of a 41% single-day rise in Signify's stock after reports UnitedHealth Group Inc. UNH, Amazon.com Inc.AMZN, CVS Health Corp. CVS and Option Care Health Inc. OPCH were vying for the firm. 

Signify’s shares surged as much as 41% to $29.88 in New York before closing at $28 on Monday.

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UnitedHealth submitted the highest bid of over $30 a share, while Amazon’s offer is close to the price, the report said. Final bids are likely on Sept. 6, but a deal could be finalized earlier if any of the parties pre-empt the sales process, the report said.

Signify is the 17th largest holding in the firm’s flagship ARK Innovation ETF ARKK, valued at over $203 million with a weight of 2.43%.